Rogers Communications (TSE:RCI.B) Stock Jumps 3.8% – Here’s What Happened

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) rose 3.8% during trading on Friday. The stock traded as high as C$45.74 and last traded at C$45.68. 1,193,037 shares changed hands during trading, a decline of 42% from the average daily volume of 2,065,245 shares. The stock had previously closed at C$43.99.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RCI.B. TD upped their target price on Rogers Communications from C$60.00 to C$65.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Morgan Stanley reduced their price target on shares of Rogers Communications from C$50.00 to C$42.00 in a research report on Tuesday, July 21st. National Bank Financial decreased their price target on shares of Rogers Communications from C$62.00 to C$59.00 in a research note on Wednesday, September 30th. Royal Bank Of Canada set a C$60.00 price target on shares of Rogers Communications and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Finally, Scotiabank upped their price objective on shares of Rogers Communications from C$60.50 to C$61.00 and gave the stock a “sector outperform” rating in a report on Tuesday, July 7th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Rogers Communications currently has an average rating of “Moderate Buy” and a consensus price target of C$58.77.

Rogers Communications Price Performance

The stock has a market capitalization of C$24.57 billion, a P/E ratio of 26.91, a price-to-earnings-growth ratio of 0.32 and a beta of 1.09. The business has a fifty day simple moving average of C$47.03 and a 200 day simple moving average of C$49.50. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50.

Rogers Communications Company Profile

Rogers is Canada’s communications, sports and entertainment company, and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For more information, please visit rogers.com or about.rogers.com/investor-relations.